Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-05-18
A CO,IOeuy Reiwecn Hessrs. Massey
aud DT2itEwnttc Thursday
tie IatE.

lie CHAIRMAN. 10 1 unlcfstanl u.a- yod
still say 70 us that you VIII take either p iaz-
receivable coupon at the rate sngge e5;ed in thts
Memorandum or the other security referred %
that may he agreed upon!
Mr. HniibWaite: | 20 not think we should
find dililcu ty In arriving NJ n coacluslon which
would accord with your ideas IL you prrferre
10 withdraw The cOnfCls nd iO-4Oa . and give The
eecuity in o different foin. ] DO not ihink
that We shall be AZ issue with you on this ques-
iiCn.
Mr.. Nessey: understand that you adhere
20 retaining ihe principal OF the debt uns'glol
at the present time; that while you make sOm3
provision for is redemption at n lower figure
ihan iis faco yalge. you mako 40 proposition
10 reduce the principal oi the debt iu the COM
menCtment Of the period from which tho
lords should run, in the event OF our coming
TO an agreement
hr. Braiihwaite: The scheme Of this pro-
posal. Of course. Is that The capital amount
shall remain as IL Is. and we relnquish 20 yOg
IN one case the 70 per cent, and In the other
the e per cent, when you redeem the bonds
Mr.. Massey: Netwe would he required 10 pay
interest on that portion .cu propose TO rom,i
until the bond isredeemcd.
Mr. Bralthwaite: That would be so. bat W.
pOint Out add strongly urge on you asa purely
tJsiue-- proposition ,1at Immediately 20 ;
have made This staicment--and when | sar
Immediately mean without IeriOd OF two o.
thres yeGrs-there Il very little Doubt 60 SD
far as 20 say no doubt-that you can then raise
the whole amount Of tie c'nsos and 10 ~
aud The row funded touds for the coupons .
pli,s which require less rate Oi interest. an.
would Immediately pay oc tie whole OF iheso
debts.
ATTEND TO YOUR oWS BUSINESS.
Mr.. Massey: ] hope you gentlemen viii OK
cusc ne II 1 suggest that with regard 20 quns-
tiors Cf The credit Of the State you will plea4c
10 leave the state of Virginia 10 take care 0f
hcr own credit and determine that matter, and
that you lCok 10 your own interest and not -
ours.
Nr. Wickham: Mr. Chairman, ] differ abso-
iutoly from Nr. Massey on thai point ] am
extremely glad 10 have tie benefit Of the iu-
formation Of these gentlemen on questions that
must be OF interest 60 rs al. suppose hr.
Massey was expressing his own opinion. So
far Is an concerned am most thankful II
any skilled finGucicr gives Us any suggestion
that will enable US to better the financial coa-
dillon Of the state of Virginia, whether he
comes rs a bondhoder or an outsider, who is
skilled IN information on tho subject.
The Chairman Mr. Siuarp: must say t1q.
Nj. Bas,ey was not rejecting my views whon
he made that statement
Mr. BraiihWaita: I will make ouly one re-
mark on that oint, ond that is that the croti
of virginia is a. vital 10 the Interests OF tho
bondhO,ders as 10 the interests Of the State
II we did not think that The credit OF VirRipi9
would be rc-Cstablishcd By an urrangemeu;
OF ihis kind. IL would not be worth tho while
terms ns We propose. The ctedlt Of yOuf
state Is the q Ing we want 70 rs-esiablish. We
30 not want 10 toll you anything that yOI ma
90. or that you may do tui- or the O;het IN tht
fuiuIe; bu1 We 60 want 10 indicstc-aDd Wouii
le faillrg in our duty 10 the bCndholders II "
did not indicate IN some way-Tneans by which
aDy particular scheme might be carried ont.
Hr. Massey: ! did cot wish 10 cay anything
thEt might gratc On ifc feelings Of Tho COM
Tiitice or the commission. yet | fclt IL was but
aE & Ill a
old not submit these thoughts to tao connie
toa TO determine upon them.l DO feel tina.
We Laye received about gs many gra:uitOus
lectures os wo can appreciate, and The Grill
dsnls that are very often frEdc hcrc with re-
Ca!1 70 Tie Deprecated credit OF ihis State, her
lost credit, and her rcrairirg credit and stand
ing. &c. are uncailcd for. These remarks
arc entirely uncal!ed fer aud are criticisms
that are not very pleasant 10 listen to. and !,
for cne, should certainly prefer that In our ne
gotiauons there .hould not be the least reler-
ton on Virginia aud hcr people. such as have
heard made, and express my hearty dissent
and decided disapprot alton OF anything that
reflects upon the credit the honor, aud the H.
togrity Of Virginia.
The Chairman (Mr. STUART: | feel constrained
10 say that Dir. Massey does not reflect my
views. lie may reflect those OF others. but not
mine in ony manner, shape, or form. II had
such views would express them at this time
and in this place
TEE DIFFERENCE.
Dir. Barbour: had supposed that We appoint
od General Wickham and Mr. Massey 20 eXPlaiI
10 these gentlemen the condition Of our reye-
Eue. and that they would have explained 10
them fully with reference 10 the same. Ate
listening 90 what those gentlemen had saic
! hopght they had been fully informed. In
reaching the propOsitlon-the Fundamental!
proposiiion OF any ynegOtiaton-wo told them w
could not exceed $50 C02 interest. When We got
TO Tint point we had reached an extreme which
should first be agreed upon, and any detailed
opposition was unnecessary 10 be considered
] thought this was all understood in the com
mittee Upon that proposition. as | unde.-
between u. These gentlemen Insist that W.
could give them 100000. and we insisted thai
we could not 60 beyond t750,010 see no want
Of fTankness ON the port Of geniemon mere 10